IOB Chief Manager arrested for bribery

Published: Tuesday, August 5, 2008, 21:02 [IST]

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Chennai, Aug 5 (UNI) The Anti-Corruption Branch of the CBI today arrested the Chief Manager of an Indian Overseas Bank (IOB) branch for taking a bribe of Rs 50,000 for enhancing the cash-credit limit of a customer.

M/s Coimbatore Auto Texmet Alloys, engaged in manufacture of Iron casting for automobiles, which was maintaining account in the Karamadai branch, submitted a proposal for enhancing their cash-credit limits.

Mr Kallian, after seeking some clarification from the company, demanded a bribe of Rs 50,000 for favourably granting the enhanced cash-credit limits.

On receipt of a complaint by Ms D Nalini, Director of the Company, the anti-corruption wing sprung into action and arrested Mr Kallian. He was produced before a magistrate court and remanded to judicial custody.